LoyalCoin, an ERC20 token backed by NEM President: LoyalCoin ICO

It seems that NEM has joined hands with a project called LoyalCoin which is based in Philippines. LoyalCoin is a project that will be replacing existing loyalty program, point service in Japan with blockchain technology. This type of project is definitely not the first but such kind of project is first one to get into partnership with NEM. A lot of NEM people are mentioned as advisors in the LoyalCoin project which includes President, Regional Head of South East Asia, Global Director for Partnerships and Council Member of NEM foundation.

Cryptocoindaddy has not looked into the whitepaper but with so many important NEM people onboard, it will definitely do well. One can participate into this ICO using NEM, Bitcoin and Ethereum. One NEM gets you 55 LYL (50+5).

Here are its features:

* Universal Rewards – Earn LoyalCoin from one brand and use it everywhere else
* Payment Gateway – Use your rewards to pay for everything you want and need
* Digital Asset Exchange – Exchange your rewards for other digital assets
* Peer to Peer Transfer – Send and receive rewards to everyone else with LoyalCoin

It is funny that while NEM is backing loyalcoin, it is not using any NEM feature or blockchain. Infact, it is an ERC20 token that runs on Ethereum blockchain.

Update 11/23/2017 – A representative from LoyalCoin has informed us that the FAQ page on their website was not updated with the fact that LYL blockchain is now running on NEM.